Johnson Investment Counsel Inc. Has $636,000 Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Johnson Investment Counsel Inc. grew its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,525 shares of the medical research company’s stock after purchasing an additional 93 shares during the period. Johnson Investment Counsel Inc.’s holdings in Quest Diagnostics were worth $636,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Quest Diagnostics by 4.8% during the first quarter. Vanguard Group Inc. now owns 14,014,030 shares of the medical research company’s stock valued at $1,917,961,000 after acquiring an additional 636,301 shares during the period. Providence Capital Advisors LLC grew its stake in shares of Quest Diagnostics by 14,887.6% in the 1st quarter. Providence Capital Advisors LLC now owns 4,331,410 shares of the medical research company’s stock valued at $30,615,000 after purchasing an additional 4,302,510 shares during the period. Victory Capital Management Inc. grew its stake in shares of Quest Diagnostics by 3.1% in the 2nd quarter. Victory Capital Management Inc. now owns 3,233,625 shares of the medical research company’s stock valued at $454,518,000 after purchasing an additional 97,425 shares during the period. American Century Companies Inc. grew its stake in shares of Quest Diagnostics by 62.2% in the 1st quarter. American Century Companies Inc. now owns 2,728,816 shares of the medical research company’s stock valued at $386,073,000 after purchasing an additional 1,046,746 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Quest Diagnostics by 46,022.7% in the 1st quarter. Wellington Management Group LLP now owns 1,914,554 shares of the medical research company’s stock valued at $270,871,000 after purchasing an additional 1,910,403 shares during the period. 87.76% of the stock is owned by institutional investors and hedge funds.

Quest Diagnostics Price Performance

Shares of DGX opened at $134.85 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Quest Diagnostics Incorporated has a 1 year low of $119.59 and a 1 year high of $158.34. The stock has a market cap of $15.16 billion, a P/E ratio of 20.25 and a beta of 0.92. The stock’s 50-day moving average price is $126.98 and its two-hundred day moving average price is $132.47.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, October 24th. The medical research company reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.03. Quest Diagnostics had a return on equity of 15.80% and a net margin of 8.21%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the business earned $2.36 earnings per share. The company’s revenue was down 7.7% compared to the same quarter last year. On average, equities analysts predict that Quest Diagnostics Incorporated will post 8.71 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Tuesday, January 16th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 42.64%.

Wall Street Analyst Weigh In

Several analysts have recently commented on DGX shares. Evercore ISI decreased their target price on Quest Diagnostics from $136.00 to $130.00 in a report on Wednesday, October 11th. Morgan Stanley reissued an “equal weight” rating and issued a $145.00 price target on shares of Quest Diagnostics in a report on Thursday, August 3rd. Piper Sandler upped their price objective on Quest Diagnostics from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. JPMorgan Chase & Co. lifted their price objective on Quest Diagnostics from $148.00 to $149.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Citigroup cut their target price on shares of Quest Diagnostics from $142.00 to $130.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 25th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $146.09.

Quest Diagnostics Profile

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.